Summary: Can I Get Approved For A Commercial Property With My Self-employed Income?

Details Description
Customer Ethan Mawby and Isabella Mawby
Mortgage broker Mohit Lal Pradhan
Purpose To purchase a commercial property and to obtain a competitive interest rate
Loan amount $944,000
Security $1,180,000
LVR 80%
Interest Rate 6.47% (P&I)
Income $268,000

The Backstory

Ethan and Isabella Mawby are a young, professional couple based in Sydney. Both have established stable employment histories in their respective fields. In terms of assets, they are in a favourable position. They maintain a minimal debt profile, ensuring their liabilities are well within their management capabilities. Their credit history is exemplary, with no adverse listings. The couple’s income supports their current lifestyle and demonstrates their ability to meet ongoing commitments, including potential loan repayments, comfortably. Their income sources are two rental properties and their business.


The Mawbys planned to purchase a commercial property and needed to be approved for a loan. However, their application was complex, as it involved self-employed income, a trust structure, and one of their properties owned 60% by their company, while other shareholders owned 40%. Lenders for commercial properties are limited, and on top of that, their case had other layers, making the approval even harder. The application heavily depended on showcasing the total lease income. Overcoming these complexities required expertise and strategy.


Home Loan Experts’ Mohit Lal Pradhan is a mortgage broker with extensive experience. He is known for his intelligence, adaptability and client commitment. Even so, when the Mawbys approached him with their complex situation, he knew his work was cut out for him. He studied the clients’ situations and needs. The limited number of lenders available for commercial property and their specific restrictions made finding suitable financing difficult. However, he works with a large panel of lenders, so he quickly found a suitable one. There were two different loan applications lodged, one residential and one commercial. Each application relied on the approval of the other. Within the clients’ self-employment setup, things got tangled regarding trust distribution and a shift in share percentages. The client initially held 80%, later that was reduced to 60%. Mohit talked to the accountant and got updated documents. As one of the properties was owned by the clients’ company, the loan application was initially declined, due to the lender’s policy against lending to trading entities. To overcome this hurdle, Mohit sent over supporting documents to demonstrate that the entity in question served solely as a holding company, paving the way for loan approval. Mohit knew that this home loan application depended on proof of lease income. So, he gathered the documents showing how much rental income is generated from the existing commercial property and how much would be generated from the new investment property. This helped mitigate the lenders’ concerns regarding financial stability. On the operational side, the clients’ business faced various challenges, from tax liabilities to sorting out car debts. Managing the financial side meant finalising tax returns and going back and forth with the accountant. The process spanned three months. Frequent consultation with the clients’ accountant ensured accurate and timely submission of paperwork, contributing to a smoother approval process. Despite moments of uncertainty that could have led to a loss of hope, Mohit, supported by his dedicated team, showed resilience. Their persistent efforts, multiple credit exceptions, and the involvement of many experts, led to the successful settlement of the loan. The clients were overjoyed and said they would love to get another home loan with the help of Mohit and his team in the future.

Are You Self-Employed And Considering Buying A Home?

Our experienced brokers understand the unique challenges of self-employed applicants and can help you get a home loan if you qualify. We’ll help you verify your income, gather the necessary documentation, and find a loan that fits your needs. Call us on 1300 889 743 or complete our free online assessment form. Let’s explore your possibilities together.